New York State Attorney General Letitia James has escalated her legal battle against former President Donald Trump.
She is arguing in court that Trump must post the full bond of $464 million for a civil fraud fine he has sought to avoid paying.
This move comes after Trump recently posted a $91.63 million bond to settle a defamation lawsuit.
In a 132-page memorandum filed on Monday opposing Trump’s motion for a stay on appeal, James highlighted Trump’s failure to provide any substantial reason why he couldn’t post the full bond.
Trump had requested to post just $100 million upfront, claiming it would be “impossible” for him to generate the full amount without conditions, including a temporary lift on a ban of his business activities in New York.
Justice Arthur Engoron had previously rejected Trump’s request for a stay on enforcement of the fine, stating that Trump’s defense had failed to justify any basis for such a stay.
James reiterated this stance, emphasizing that Trump’s offer doesn’t even represent a quarter of what he owes plus interest.
Furthermore, James pointed out that Trump and his co-defendants have not provided any concrete plans to secure funding, despite labeling Trump as a “multi-billionaire.”
She argued that Trump could explore options such as obtaining an irrevocable letter of credit or offering real estate-backed securities to secure the bond.
If the court decides to grant any stay of relief, James urged for expedited proceedings, suggesting that the appeal should be set for the September 2024 Term to ensure timely resolution.
The ongoing legal battle underscores the high stakes involved as James seeks to hold Trump accountable for the civil fraud fine imposed by the court.
